October 2022

SABB hosted the 2022 "Economist" Annual Roadshow on October 6, 2022. The event was attended by a number of HSBC's most recognized economists and a group of executives and high-profile SABB clients from the retail and corporate sectors.

The roadshow aims to provide clients with an economic overview and analysis of trends by HSBC Group's economists: Simon Williams, HSBC Chief Economist, CEEMEA; Paul Mackel, Head of Emerging Markets FX Research; and Janet Henry, Global Chief Economist.

Mr. Tony Cripps, Managing Director and CEO of SABB, opened the event with remarks in which he reaffirmed SABB's commitment to its role in achieving Vision 2030 and its effective contribution to the development of the national economy through financing major projects, supporting institutions and companies of all types, and accelerating the pace of economic growth and sustainable development in the Kingdom and the region as a whole. Highlighting SABB's vision to become the leading global bank in the Kingdom.

Mr. Yasser Al-Barrak, CEO of Corporate and Institutional Banking at SABB, emphasized the need for organizing these discussions and listening to experts' perspectives and expectations in order to uncover potential for long-term success. He went on to emphasize Saudi Arabia's solid management of COVID-19 and prudent use of its financial resources, which have put the country in a highly favorable position and made it an attractive location for both global and local investors.

The speakers shared their views on the themes shaping the global economy in the short and medium term with thought-provoking presentations.

Janet Henry spoke on the global economic issues and their consequences for production and other crucial elements. Paul Mackel discussed the volatility in the key global currency markets in light of the global economic crisis and rising interest rates both of which have an impact on regional economic growth. Simon Williams reviewed the economic prospects of Saudi Arabia and the Arab Gulf nations, calling current economic conditions in the area "exceptionally good" and highlighting that the Kingdom is leading the region for the better by relying on a more diverse economy.